“So, the associated economic expansion from implementing the new minimum wage will be salutary for the economy having negligible impact on the general price level,’’ he said.

Uwaleke recalled that the monthly reports by the National Bureau of Statistics (NBS) had shown that inflation in Nigeria, against the backdrop of low economic activities was more of the cost-push type than demand-pull.

This, he said was driven more by high cost of fuel, electricity and transport.

He said that historical evidence does not also support the claim that the new minimum wage would worsen inflationary pressure.

“In 2011 for instance, when the minimum wage was increased from N7,500 to N18,000, inflation rate actually dropped from over 13 per cent the previous year to less than 11 per cent.